DA Davidson Analysts Cut Earnings Estimates for First Financial Northwest, Inc. (NASDAQ:FFNW)

Posted by Defense World Staff on Oct 5th, 2023

First Financial Northwest, Inc. (NASDAQ:FFNW – Free Report) – Investment analysts at DA Davidson lowered their FY2024 EPS estimates for First Financial Northwest in a research note issued on Tuesday, October 3rd. DA Davidson analyst J. Rulis now forecasts that the bank will post earnings per share of $0.55 for the year, down from their prior forecast of $0.60. The consensus estimate for First Financial Northwest’s current full-year earnings is $0.68 per share.

First Financial Northwest (NASDAQ:FFNW – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.04). First Financial Northwest had a net margin of 14.58% and a return on equity of 6.77%. The business had revenue of $11.11 million for the quarter, compared to analyst estimates of $12.31 million.

First Financial Northwest Stock Performance

Shares of FFNW stock opened at $12.63 on Wednesday. The firm has a market cap of $115.56 million, a price-to-earnings ratio of 10.79 and a beta of 0.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. First Financial Northwest has a 52 week low of $9.70 and a 52 week high of $15.75. The firm’s 50-day simple moving average is $12.41 and its two-hundred day simple moving average is $11.73.

First Financial Northwest Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.52 annualized dividend and a yield of 4.12%. First Financial Northwest’s dividend payout ratio is currently 44.44%.

Hedge Funds Weigh In On First Financial Northwest

Hedge funds have recently bought and sold shares of the company. UBS Group AG grew its stake in First Financial Northwest by 213.0% in the 2nd quarter. UBS Group AG now owns 1,800 shares of the bank’s stock worth $27,000 after buying an additional 1,225 shares in the last quarter. Royal Bank of Canada raised its holdings in First Financial Northwest by 13.6% in the 3rd quarter. Royal Bank of Canada now owns 10,000 shares of the bank’s stock worth $148,000 after purchasing an additional 1,200 shares in the last quarter. Grace & White Inc. NY bought a new position in First Financial Northwest in the 2nd quarter worth $141,000. Susquehanna International Group LLP bought a new position in First Financial Northwest in the 1st quarter worth $234,000. Finally, EA Series Trust bought a new position in shares of First Financial Northwest in the 2nd quarter worth about $231,000. Hedge funds and other institutional investors own 40.15% of the company’s stock.

First Financial Northwest Company Profile

(Get Free Report)

First Financial Northwest, Inc operates as the bank holding company for First Financial Northwest Bank that provides commercial banking services in Washington. The company offers a range of deposit products, including noninterest bearing accounts, interest-bearing demand accounts, money market accounts, statement savings accounts, and certificates of deposit.